The Implication of Global Economic Recession on Sustainable Housing in Lagos Megacity

Michael Adeloye ADEBAMOWO

Abstract


This paper is a contribution to the pertinent discourse on the issue of global economic recession as it affects sustainable housing using the Lagos megacity as a case study. A global structural defect in the economy will eventually affect all the aspects of our lives and existence and as such must be studied, the effects understood and the likely impact on the environment particularly in the aspect of Sustainable Housing development be examined.

In order to do this, a survey of 60 key players in the housing industry was conducted to examine the impact of the recession on sustainable housing and findings showed that the impact of the recession on house prices is significant but not severely great as there are still opportunities to be explored.

Finally the paper is divided into five sections. The first section is the introduction while the second section is an overview of sustainable housing development and emergence of megacities; with the third section discussing the Lagos Megacity and the state of housing. The survey conducted with results and discussion is presented in the fourth section and the paper concludes in the fifth section with the recommendation of strategies to mitigate the effect of the recession on sustainable housing.


Full Text: PDF DOI: 10.5539/ibr.v4n1p167

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This work is licensed under a Creative Commons Attribution 3.0 License.

International Business Research  ISSN 1913-9004 (Print), ISSN 1913-9012 (Online)

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